Category Archives: Economics

VIKINGS—RAIDERS OR TRADERS—OR FARMERS.

Posted on October 2, 2014 by Philip

VIKINGS—RAIDERS OR TRADERS—OR FARMERS. I have posted several times on historical opinions on whether the Vikings were raiders or traders. I called attention here to Tom Shippey’s judgment that the Vikings were raiders—“just unusually aggressive”. Eric Christiansen in the New … Continue reading →

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HOW STEEL TANKS REPLACED BARRELS FOR BEER.

Posted on October 1, 2014 by Philip

HOW STEEL TANKS REPLACED BARRELS FOR BEER. Martin Johnson describes how after Prohibition “the American brewery industry dramatically consolidated, and growing companies seeking larger-capacity storage with greater sterility turned to massive stainless steel tanks.” The steel tanks went along with … Continue reading →

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USING BARRELS TO CHANGE THE FLAVOR OF BEERS.

Posted on September 30, 2014 by Philip

USING BARRELS TO CHANGE THE FLAVOR OF BARRELS. I posted here about estimates by people in the bourbon industry that the barrel accounts for 60% to 70% of the flavor of bourbon. Martin Johnson wrote this article in the Wall … Continue reading →

Posted in Economics, History, Uncategorized | 1 Comment

A CYNICAL LOOK AT THE PRODUCTIVITY IMPROVEMENT FROM COMPUTERS.

Posted on September 19, 2014 by Philip

A CYNICAL LOOK AT THE PRODUCTIVITY IMPROVEMENT FROM COMPUTERS. I posted here and here on the “productivity paradox” that statistics do not seem to show that the computer has had much effect on economic productivity. This is a question and … Continue reading →

Posted in Economics, History | 2 Comments

REDUCING RUBBERNECKING.

Posted on September 4, 2014 by Philip

REDUCING RUBBERNECKING. I posted here about the enormous costs in time and other resources that are imposed by traffic jams and argued that less effort is made to reduce congestion costs because those costs to motorists are not measured. Annalisa … Continue reading →

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THE PROVISO YARDS.

Posted on August 22, 2014 by Philip

THE PROVISO YARDS. In the early 1950’s, my father would often comment when we drove near the enormous railroad yards near Chicago known as the Proviso Yards that this would be one of the major military targets if the United … Continue reading →

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THE REFURBISHMENT OF GRAND CENTRAL.

Posted on August 18, 2014 by Philip

THE REFURBISHMENT OF GRAND CENTRAL. Kids, in 1968, Grand Central was a beautiful space, but a rather grim place. The difference can be measured by today’s beautiful ceiling in the concourse, with the twinkling stars. In 1968, it was covered … Continue reading →

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TOO COMPLEX TO FAIL—-LIVING WILLS.

Posted on August 12, 2014 by Philip

TOO COMPLEX TO FAIL—LIVING WILLS. Since the Lehman bankruptcy in September 2008, I have posted a number of times about the difficulties that the complexity of Lehman’s business made for the bankruptcy. For example, I posted here in July 2009 … Continue reading →

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OUR GEE WHIZ MORTGAGE.

Posted on July 25, 2014 by Philip

OUR GEE WHIZ MORTGAGE. Another reason that the inflation from 1979 to 1982 was felt acutely by individuals was that the Federal Reserve tightening of monetary policy was reflected in high interest rates. A nominal interest rate of 14 % … Continue reading →

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THE GREAT INFLATION.

Posted on July 24, 2014 by Philip

THE GREAT INFLATION. I reacted strongly to the characterization of the period from 1979 to 1982 as one of “miserable results” because I had thought that there was rare general agreement among economists that this was a period when economic … Continue reading →

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